The Hot Spot

WHAT OUR CLIENTS HAVE TO SAY

"I truly appreciated the quick response. I've never been let down by anyone at HMS. They are always willing to go above and beyond the call of duty. The certificate took less than 5 minutes to arrive to me, the general contractor. I appreciate the speediness, as the COI is something that our accounting department needs before releasing payment!" - Christa – HVAC Contractor

Captive Programs

HMS recognizes the benefits that may accrue to qualified firms through the use of a captive insurance program. While the actual savings that any one company may realize depends upon a multitude of factors, the potential for reductions in cost exist. HMS offers member owned and controlled group captives for which all profits and investment income are returned to captive members from their own distinct loss funds.

A Captive is a closely held insurance company which provides coverage for and is controlled by its owners. Property and casualty insurance coverages are provided to qualified member companies by their own captive company. Captive members fund for frequency claims and purchase reinsurance for catastrophic claims. The captive assets are protected by catastrophic reinsurance and aggregate excess reinsurance by “A+” rated carriers.

WHY COSTS ARE GENERALLY LOWER:

Member owned and controlled

Return of underwriting profits to each captive member from their own distinct loss fund

Investment income accrues to each captive member from their own distinct loss fund

Enhanced Risk Control activity will enable many companies to further reduce their incidence of loss and you are directly rewarded by receiving dividends related to loss performance.

Premiums are based on the loss experience of each captive member, rather than the experience of the peer group in your industry.

Marketing costs are reduced and other fixed costs are unbundled and bid competitively for the most favorable arrangement.

Greater control of claims. Owners have direct access to and notification from the person setting loss reserves, input into legal counsel, and ability to designate claims that require special handling by the adjuster.

Claims costs are often driven down to significantly less than the industry standard.

Greater coverage than available through the traditional insurance marketplace. Coverage can be tailored to the needs of Captive members.

There is a very stringent prospective member review process which allows the captive to see only “best in class” companies.

The Hot Spot

WHAT OUR CLIENTS HAVE TO SAY

"I truly appreciated the quick response. I've never been let down by anyone at HMS. They are always willing to go above and beyond the call of duty. The certificate took less than 5 minutes to arrive to me, the general contractor. I appreciate the speediness, as the COI is something that our accounting department needs before releasing payment!" - Christa – HVAC Contractor